Worcester's Greendale Mall in December 2018. Photo courtesy of JJBers / CC BY 2.0

A declining Worcester mall has been sold to a Boston-based developer for $7.12 million, and a redevelopment could be in the works for the property.

Finard Properties, whose recent projects have included Burlington and Providence hotels and retail projects nationwide, bought the land from C-III Capital Partners, in part with a $4.27 million mortgage from Boston Private Bank, according to public records. Texas-based C-III bought the mall at a foreclosure sale in 2016 for $11.8 million after the lender took possession of the building from mall operator Simon Property Group.

The two-story mall’s website currently lists only 13 tenants for the mall’s 40 storefronts, chiefly local restaurants and beauty stores. It only has two anchor stores at present, TJ Maxx and DSW, after Best Buy closed its store last month.

Finard Properties was not immediately available for comment, but the Worcester Telegram reports the company is considering a mixed-use development on the site.

Worcester has seen growing interest from commercial real estate developers in recent years, in part thanks to Polar Park, being built to house the WooSox, the Boston Red Sox’ Triple A affiliate.